Steph & Co. Acquires 114 Shares of SBA Communications Co. (NASDAQ:SBAC)

Steph & Co. grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 13.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 943 shares of the technology company’s stock after purchasing an additional 114 shares during the quarter. Steph & Co.’s holdings in SBA Communications were worth $192,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Avenue Securities LLC lifted its position in shares of SBA Communications by 29.1% in the fourth quarter. Park Avenue Securities LLC now owns 4,630 shares of the technology company’s stock worth $944,000 after buying an additional 1,045 shares during the last quarter. Oak Thistle LLC lifted its stake in shares of SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after buying an additional 2,863 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in SBA Communications in the 4th quarter valued at $416,000. Eastern Bank raised its holdings in SBA Communications by 100.4% in the 4th quarter. Eastern Bank now owns 485 shares of the technology company’s stock worth $99,000 after acquiring an additional 243 shares during the period. Finally, Czech National Bank lifted its position in SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after acquiring an additional 1,421 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Barclays lowered their price objective on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Raymond James raised their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus price target of $254.77.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

SBA Communications Stock Up 1.1 %

Shares of SBAC opened at $197.23 on Thursday. The company has a 50-day moving average price of $212.49 and a two-hundred day moving average price of $221.36. The stock has a market cap of $21.21 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 0.68 and a beta of 0.69. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same period in the prior year, the firm earned $3.34 EPS. SBA Communications’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.